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Weekly forecast British Pound / Australian Dollar technical chart
Symbol GBPAUD
Trade Setup

#GBPAUD
Total Profit: 12139 pip
Closed trade(s): 12139 pip Profit

Trade Setup:
We opened 12 BUY trades @ 1.70933 based on 'valley' entry method at 2022-09-29.

Closed Profit:
TP1 @ 1.71855 touched at 2022-09-30 with 93 pip Profit.
TP2 @ 1.72944 touched at 2022-09-30 with 201 pip Profit.
TP3 @ 1.74305 touched at 2022-09-30 with 338 pip Profit.
TP4 @ 1.76387 touched at 2022-10-04 with 546 pip Profit.
TP5 @ 1.77888 touched at 2022-10-13 with 696 pip Profit.
TP6 @ 1.79830 touched at 2022-10-13 with 890 pip Profit.
TP7 @ 1.81515 touched at 2022-10-17 with 1059 pip Profit.
TP8 @ 1.83859 touched at 2023-03-23 with 1293 pip Profit.
TP9 @ 1.87528 touched at 2023-04-26 with 1660 pip Profit.
TP10 @ 1.89575 touched at 2023-04-28 with 1865 pip Profit.
2 trade(s) closed at market price as trend direction is changed, therefore total profit will increase by 1749 x 2 = 3498 pip
93 + 201 + 338 + 546 + 696 + 890 + 1059 + 1293 + 1660 + 1865 = 12139 pip

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.66317 to 1.64965). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.66317)
  • Ending of entry zone (1.64965)
DateJune 4, 2023 - 11:26
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.82411, resumption of uptrend is expected.
  • We make sure when the resistance at 1.92000 breaks.
  • If the support at 1.82411 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 1.90342 on 2023-04-28 and the peak at 1.91819 on 2023-05-31, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 1.91820 on 05/31/2023, so more losses to support(s) 1.87528, 1.85045, 1.83859 and minimum to Major Support (1.82411) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

Take Profits:

  1. 1.71855
  2. 1.72944
  3. 1.74306
  4. 1.76065
  5. 1.77800
  6. 1.79830
  7. 1.81431
  8. 1.83859
  9. 1.87528
  10. 1.89575
  11. 1.90364
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Australian Dollar (GBPAUD) Sun, 14 Apr 2024
British Pound / Australian Dollar (GBPAUD) Sat, 6 Apr 2024
British Pound / Australian Dollar (GBPAUD) Mon, 1 Apr 2024
British Pound / Australian Dollar (GBPAUD) Sat, 30 Mar 2024
British Pound / Australian Dollar (GBPAUD) Mon, 25 Mar 2024
History
Daily-Trading-Opportunities on GBPAUD.